Grenada: Fifth Review Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria and Request for a Three-Year Arrangement Under the Extended Credit Facility, and Financing Assurance Review
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Summary:
This paper discusses key findings of the Fifth Review Under the Extended Credit Facility (ECF) for Grenada. Four of the six quantitative performance criteria for end-November 2009 were met. The primary balance, excluding the grants target, was missed by 3.3 percent of GDP owing to higher-than-expected expenditures related to donor-financed capital projects and overruns on current spending associated with a sharp rise in unpaid invoices less than 60 days old. The authorities are requesting waivers for the missed performance criteria based on their implementation of corrective measures.
Series:
Country Report No. 2010/139
Subject:
Credit Economic sectors External debt Money Public and publicly-guaranteed external debt Public debt Public financial management (PFM) Public sector
English
Publication Date:
May 20, 2010
ISBN/ISSN:
9781455207503/1934-7685
Stock No:
1GRDEA2010002
Pages:
98
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